B2Gold announces share buyback programme

B2Gold has announced changes to its shareholder returns strategy to enhance financial flexibility as it progresses through an organic growth phase. The company is focused on key projects, including the anticipated commencement of gold production at Fekola Regional in Mali, the completion of construction of the Goose Mine in Nunavut, Canada, the advancement of the Antelope deposit at the Otjikoto Mine in Namibia, and the conduct of de-risking activities for the Gramalote Project in Colombia.

As part of this strategy, B2Gold’s Board of Directors has approved a reduction in the quarterly dividend from $0.04 per share to $0.02 per share, equating to an annualized dividend of $0.08 per share. Since introducing dividends in 2020, the company has distributed approximately $870 million to shareholders. This adjustment reflects B2Gold’s commitment to balancing shareholder returns with its ongoing investment in growth opportunities, ensuring sufficient financial resources to support major projects and obligations, including a gold delivery commitment from July 2025 to June 2026.

In addition to the dividend revision, B2Gold plans to implement a normal course issuer bid (NCIB) to repurchase up to 5% of its outstanding common shares, subject to regulatory approval. These purchases will be made on the open market through the Toronto Stock Exchange, NYSE American, and other authorized platforms. The repurchased shares will be canceled, underscoring the company’s belief that its stock may at times be undervalued.

President and CEO of B2Gold, Clive Johnson, emphasized the importance of maintaining financial flexibility during this phase of growth. He said that the company is committed to sustaining shareholder returns while ensuring the successful advancement of critical internal projects.

B2Gold, headquartered in Vancouver, Canada, operates gold mines in Namibia, Mali, and the Philippines and is developing significant projects in Canada, Colombia, and Finland. The company projects total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.